AIC Mines
Primary ticker: ASX:A1M
Stage of development: Exploration, Development, Production
Primary minerals: Copper
Project to promote: Eloise Copper Mine, Jericho Copper Project
Project location: Australia
Website: www.aicmines.com.au
Corporate presentation: Click here
AIC Mines is an Australian copper and gold mining company focused on growth through acquisition, exploration and development. The company owns and operates the Eloise Copper Mine in Northwest Queensland and is developing the nearby Jericho Copper Project, with a goal of increasing copper production from 12,500tpa to over 20,000tpa.
In addition to production growth, AIC Mines is one of the most active explorers in the highly prospective Mt Isa-Cloncurry region, advancing exploration across its 2,000sqkm tenement package. AIC Mines is committed to building a new Australian mid-tier copper mining company.
Cash: AUD44.7M
Debt: /
Major shareholders:
FMR Investments – 14.3%
Josef El-Raghy – 6.7%
McCusker Holdings – 4.9%
Firetrail Investments – 4.9%
Gibson Minerals – 4.9%
Management ownership – 9%
Financials
Management Profile
Aaron Colleran, MD & CEO
Mr Colleran has extensive experience in public markets mergers and acquisitions and strategic planning. Mr Colleran was a founding member of the leadership team of Australian gold producer Evolution Mining Limited, having managed its business development and investor relations program from inception through to 2018. He was instrumental in the multiple merger and acquisition transactions that created Evolution Mining, now one of Australia’s largest gold mining companies. Since joining AIC Mines, Mr Colleran has led the purchase and turn around of the Eloise Copper Mine, and the acquisition of the Jericho Copper Project. This Project is currently being developed.
What is your rationale for taking part in 121 Mining Investment?
AIC Mines believes they are the preferred Australian copper mining growth story. Taking part in the 121 conference series is intended to increase international exposure to the company’s operating, developing and exploration story. The company has an exciting development pathway ahead, and is seeking investor support for future equity raises and on market support as the company also looks to pursue inorganic growth opportunities.
What recent news would you like to highlight to investors attending?
23 January – Significant Results from Jericho Resource Extension Drilling
28 January – December Quarterly Report
19 March – Mineral Resource Update
April – Ore Reserve Update and Production Targets
April – EPC Contract Award
April – Mach Quarterly Report
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
Successful update of company’s Mineral Resources and Ore Reserves
Successful award of EPC contract
Secure funding for Jericho Project and Eloise plant expansion
6 Months:
Successfully achieve Eloise FY25 Guidance
Successful commissioning of second Jericho ventilation rise
12 Months:
Successful commencement (and progress) of the Eloise processing plant expansion
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
We are a single asset company. Recent history of achieving guidance has shown that we can successfully deliver on promise. Development a second mine at Jericho significantly de-risks (and expands) production.
What do you think makes your company such a compelling investment?
AIC Mines is the only Australian copper growth story with consistent successful operational performance, a significant (and underway) development project with potential to turn the company into a 25ktpa copper producer, and the most active exploration program in our operating area in NW Queensland. Strong leverage to copper (and significant gold credit) and a positive mid-long term outlook as one of the key metals behind the world’s green energy transition lends substantial support for AIC Mines.
What are the top 3 key investor takeaways?
– Track record of acquisition, operational turnaround and exploration success
– Transformational development underway
– Exciting exploration portfolio to underpin a +20 year project life